22) Havermill Co. establishes a $250 petty cash fund on September 1. On Septembe

Question

22) Havermill Co. establishes a $250 petty cash fund on September 1. On September 30, the fund is replenished. The accumulated fund receipts on that has a balance of $18. On October 1, the accountant determines that the fund should be increased by $50. The journal entry to recorod the reimbursement of the fund on September 30 includes a: 22) date represent $73 for Office Supplies, $137 for merchandise inventory, and $22 for miscellaneous expenses. The A) Debit Petty Cash for $232. B) Credit to Merchandise Inventory for $137. C) Credit to Cash for $250. D) Credit to Cash for $18. E) Debit to Office Supplies for $73

Explanation / Answer

The journal entry to record the reimbursement of the fund on September 30 includes a debit to Office Supplies for $73 Option E is correct

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